Vietnam & Bangladesh textile associations tie up to promote mutual interests
04 Jun '05
1 min read
Vietnam Textile and Garment Association (TGA) and the Bangladeshi Association of Textile and Garment Businesses have signed an agreement to promote the twin textile and garment sectors.
As per the agreement, Vietnamese textile and garment manufacturers can access low-cost workforce in Bangladesh to strengthen increase its production. and exports.
Explaining added benefits, TGA General Secretary Le Van Dao said as Vietnamese businesses enjoy preferential tariffs and face few barriers in world trade, the agreement would benefit the country.
Textile and garment sectors account for second major earner of foreign currency for Vietnam after crude oil.
As for Bangladesh, the Garment industry grosses 40 percent of national industrial production value at 5 percent GDP, while providing 4 million jobs.
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